Bitcoin Forum

Is Ethereum and other altcoins taking over and replacing Bitcoin?
If so, how fast will this happen?

First , where did you get this Crap? do you have even some basis for asking this? Ethereum and other altcoins ? just because Ethereum made another ATh and staying strong?

Mind looking at Bitcoin price now?  
Bitcoin

BTC = $56,153.97
   
market cap = $1,050,223,659,654

volume = $56,723,678,620

it strongly holding the 50 thousand level up to now.

Never will be faster because before you knew it? bitcoin had already make another ATH and you are failed in this belief.

There are a lot of delusional dreamers on altcoin discussions hoping that this will happen. If you think the same, better go discuss with them there.
I think that it won't happen in the next 10 years, at least.

Nah, bitcoin is still on top of the food. Let me give you some background, in 2017, there was this so called "Flippening" - others thought that Ethereum will take over against Bitcoin, didn't happen. And then the "Rippening", Ripple supposedly the new dominant coin, but again, they just make some noise, and still Bitcoin remains the top 1.

Not many are using Ethereum because it is worst than Bitcoin as far as transaction confirmation time, fees are way high for average Joe. What you are seeing on Ethereum is that they will be coming up with a new proposal, (Ethereum Improvement Proposal) EIP 1559 package in London fork, that's why there are a lot of FOMO right now.

It can never be irrelevant knowing that it's the actual market. Imagine that you need to buy BTC (ideally) to get involved in crypto to avail another type of crypto. Yes, you can get different coins directly, but most people would understand that if one person says they want to get involved in the crypto space, it's "BTC," which comes up to mind immediately.

Look at the different markets in different exchanges, and there is their market with their coin, BTC markets, and other relevant pairs for you. It's almost always going to BTC.

For BTC maximalists, it's not going to work, and it's always going to be number 1, and I don't think it's going to happen anytime soon. With the scarce supply and characteristic to HODL, the investment makes it even more valuable.

Just HODL BTC and HODL other coins but remember that BTC is always going to be relevant.

Stop looking at irrelevant crap like that market cap dominance bitcoin went down to 37% in 2018, it dropped to 32% in 2018 and there was no flippening whatsoever,  neither against ETH nor BCH, now with a hundred thousand altcoins with fake market cap generated by low volume or stable coins and it's still the same story.
Everything that counts is done with Bitcoin, the others are at crypto kitties level and struggling to do anything remarkable.

Ethereum needs to reach 10k with BTC staying the same to have a chance, where do you think 1,2 trillion are going to come from?

 I guess you should just lock this thread because is irrelevant to the bitcoin discussion thread, how on earth can you say ethereum and other altcoins are taking over bitcoin in terms of price, Ethereum may do a new all-time high but that does not warrant this statement.

Name an altcoin that actually has at least a small chance into taking over and replacing Bitcoin. I'll wait.

As for Ethereum, they aren't even in the same category. Both are trying to do different things.

I'm not sure if you are trolling or what, but bitcoin is the prime mover of crypto and even Ethereum will not over take it. Just because Ethereum is pumping so hard to $3k that it has a chance, and I don't know what do you mean that bitcoin is no longer irrelevant, you can look at the price of it, all time high of $64k and chances that it can break 6 digits this year.

Again, not gonna happen, sorry to burst the bubble for you.

OP thinks that Ethereum can replace just because these cryptocurrency are surging lately. I guess is just spreading FUD because OP is bitter that he/she didn't profited a lot from bitcoin so OP tries to tell others that bitcoin is bad so OP will have some people to share misery with.

Hello everybody. As long as the cryptocurrency is relevant, Bitcoin will always occupy the relevant and first position. How many years have already been created new, possibly more advanced coins, but Bitcoin does not give up its positions, even in the bull market, even in the bear market. Look at what cryptocurrencies the media write about - all over the world the word cryptocurrency is associated with the word Bitcoin. And what kind of loss of relevance of Bitcoin can we talk about here?..

If you will check this site: https://www.blockchaincenter.net/flippening/

It will help you to analyze how Ethereum is outperforming Bitcoin or Bitcoin outperforming Ethereum, it is a flippening index for Bitcoin vs Ethereum.
A lot of data there for Bitcoin and Ethereum. One of the most important there is the market cap, still, 37% for Ethereum to be able reach Bitcoin's market cap. Not even 50%.


https://i.imgur.com/0Eycz7y.png

https://i.imgur.com/qHxUgat.png

No way. How many threads were there about tackling if Ethereum and other altcoins will replace before? I think there were so many of them. @OP, how come you have thought of Eth and alts will taking bitcoin's place?

Says who? Do you ever see bitcoin drop down at rank 2? I don't see that come since if you look at the situation on the market when bitcoin price dump almost all alts dump to including that ethereum or other what coin you support.

So don't believe on take overs for now since there are so many things need to happen, but those bad things seems not yet to come since bitcoin is getting more stronger and stronger with good adoption announced every year.

As everything in crypto happens in cycles, so its the same case with this ETH and other altcoins price increase. Back in early 2018 BTC dominance fell to 38%, and eventually it went up above 70% again. Now we are seeing the same thing, BTC price is going sideways for some time, that gives alts more room to breathe, therefore decreasing BTC dominance which is currently approximately 48%.

So, even if BTC dominance falls below 40%, it doesn't mean that BTC is not relevant anymore, it is just a cycle and sooner or later people will take the profits from their alcoins and put it back into BTC, which is much safer in the long run.


Exactly this, ETH and BTC can perfectly coexist as you said they are trying to do different things.

What do you mean to “replace” it? What is Bitcoin to be “replaced”? That it'll stop being the #1 on market cap or that people will stop using it? Because I highly doubt for both. Bitcoin was the first one, it was the one that started this technology.

I'll quote you a nice part of the nullius' Social Phenomenon (https://bitcointalk.org/index.php?topic=5215927.0):

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Besides the above, there are others more practical reasons why Bitcoin will always be the default one. It is the most decentralized one, with no premined coins (such as with Ethereum) and with a dedicated developing team.

And as said by others, you shouldn't be comparing Ethereum with Bitcoin since they're solving different problems. It's like believing that oranges will replace apples, because oranges taste better to you.

Yes it is no longer relevant. Go buy Dogecoin and make Elon Musk and all the Dogecoin pumpers happy.

I just paid $36 to transfer $220 worth of Bitcoin, what a f**ken joke. I hope it does become irrelevant

"Bitcoin not relevant"? I want to know which point and rate to which this was said because I was just trying to wrap my head around this write-up and I couldn't get your point and basis. Ethereum and other altcoins have taken over no way

I don't mind paying $100 to transfer $50K. BTC it's a store of value like gold. For small transactions use Paypal :)

I believe other coins can replace bitcoin in terms of price. From another perspective, it seems impossible to replace bitcoin.
The question is, if the price of other coins can exceed the current price of bitcoin ..... can it survive like bitcoin?

You didn't even need to pay $36 for a transaction fee to start with. You should know by now that fee recommendations on most(if not all) wallet software almost always overcharge for the fees and make inaccurate recommendations.

Bitcoin is very much relevant. Maybe because of the new ETH ATH but that does not make it look as if ETH is chasing bitcoin out of relevant. If you understand some previous pump history, you will know there is always a time whereby traders will consider other coin too and their price will increase. It is not only ETH that is pumping but many others (WAVES, NEO etc.)

I don't think it can replace bitcoin, talking about prices or other aspects.
If it's possible on bitcoin in terms of price, I don't think they can hold on as long as bitcoin. Although other currencies are growing and growing no less. But they won't replace bitcoin

Replacing Bitcoin about what? If it is about payments, there are already altcoins that outperform BTC in tx/sec, fees, etc.
People currently only use BTC as a store of value or investment. So if it's about price (market cap), BTC will still be #1 until there is a new technology that fundamentally different from this "blockchain technology" and solves "the trilemma."

We might not call it "coins" but mana, soul, or whatever.  ;D

Maybe we are about to witness the much awaited altseason, btc have had its share of fun this past months perhaps now is time for alts to have some fun too, that is not taking away the possibility that btc can still pull a fast one, going by analyst prediction btc haven't hit the 72k target yet, there is a possibility that will happen alongside alts bullrun,
if you don't have some alts, perhaps now is the time to pick up some good ones, for if the altseason has been activated, you wouldn't want to miss out.

I don't think  that altcoins will take over Bitcoin on the top spot of the market cap. Their run is temporary due to the endorsement of some whales but if we want our money to be safe, put it on bitcoin.

I'm trying to engaged in ETH but the high TX fee prevented me, they have to solve this if they want to sustain their run.

Considering the capitalization of Bitcoin and the rest of the market, perhaps Bitcoin is falling, but if you look closely, no cryptocurrency can replace Bitcoin on the chart.
Bitcoin has always been a symbol of crypto. Let's see how Bitcoin falls in price and how the remaining cryptocurrencies crash in value.
Those who have experienced the bear market will understand which crypto is king.

Take note that some other potential coins only rely on bitcoin's price, they are just an alternative source of profit besides bitcoin.

At the end of the day, bitcoin is the one who will still prevail in the market even if its price is very volatile in the market compared to other coins.

Bitcoin is relevant in a long run because it is the foundation of other cryptocurrencies and it is normal for its price to go down because all coins are volatile in the market.

Even though ETH is surging really well and taking some percentage of the Bitcoin dominance, I still don't think that Altcoin is taking over and replacing Bitcoin.  Bitcoin had been widely accepted and many governments is acknowledging it already.  It will take time for altcoin to get where Bitcoin is now so it isn't time for Altcoin to take over and replace Bitcoin.

It's not taking over bitcoin and it will never happen. It looks like you are taking the marketcap as a point to determine whether the coin is still relevant to be placed at the top position or not. That's really wrong dude.
I think that you must try to take a look at the crypto cycle and ethereum bullish trend can be a signal for altcoin season.
Bitcoin is very stable doesn't mean if it will be stuck in the same place. Once there will be big news and FOMO for bitcoin will happen.
More and more major companies tried to add more bitcoin to their portfolios.

Could be because the btc dominance as of today is at 45% which has reduce considerably compare to before, this could be the reason why eth is pumping, maybe soon other alts will follow eth price movement,
just because eth is pumping don't mean btc is no longer relevent, it means probably investors are shifting funds from btc to alts like eth if the alts season is begining to happen. this is a good thing for alts holders.

This is a long process for Altcoins to catch up with Bitcoin. You can judge for yourself the different interests of the 2 currencies. although there is a coin price that can catch up with Bitcoin but will not have any effect on Bitcoin. Bitcoin has its own place for people to invest in. Belief in Bitcoin will be much different from other coins, especially in coins that are just emerging on the market. With the increase in Ethereum does not mean Bitcoin will just sit there until the coin has no numbers. It's impossible

What you have to understand is that nothing has been able to replace Bitcoin from the past until now, don't you see that the correction that occurs in Bitcoin will be able to be used by Altcoins, because when Bitcoin is corrected, most Altcoins also correct themselves.

In which perspective you are using the word taking over? If you are talking about the market cap then it's not possible for a single coin to take over BTC. If you are talking about a user-friendly and least costly payments system then there are already a lot of alts that are performing well even doing better than ethereum itself. No matter how better or superior technology other alts use BTC will be the father of crypto forever.

I don't think so. Even though ETH is now showing a good run I don't think it will be enough to dethrone Bitcoin on its position. Perhaps those altcoins can outperform Bitcoin through transaction fees, speed, and more but in terms of market cap, I don't think so. Besides, the decrease of Bitcoin dominance doesn't necessarily mean it will be replaced by any altcoins, but not gonna lie this might be the start of altcoin season that most of everyone waiting for so you might want to fill your bags with some altcoins.

Let's not spread bullshit on bitcoin please.
Enjoy this ride while it lasts and remember, if you are buying ETH, that it has no HARD CAP right now. Any monetary change on ETH will have huge impacts on its future prices.
Again, enjoy the ride while it lasts.
This heavy accumulation phase may mean that 2.0 is almost near, though.

Anything replacing Bitcoin would destroy the store of value thesis which is a fundamental of money, this would be game over.  I dont believe it will ever happen as the market is not that stupid. 

Most people who ask or believe it are basically hoping their bags will be the one to do it.  If your altcoin could do it then what would stop your alt being replaced in 10 years by another.....? ie: Store of value would be dead.

let's say that bitcoin has lost some of its importance on the markets but it still remains number one, let's also say that eth and bnb are doing very well but in my opinion it takes a lot before they can take the place of bitcoin and become a reference point in the world of crypto

Please don't take a short-term event like ETH and altcoins going up to conclude Bitcoin is not suitable.
We have lived in bear and bull market times. Bitcoin is the market leader and leader. Let's see how Bitcoin falls in price and increases in price. Bitcoin moves first and the rest of the altcoins follow.
If this time Bitcoin really drops, panic because the altcoins will quickly be depleted.
There is no substitute for Bitcoin on the chart and we know it all the time.

I don't think it can happen. Because bitcoin community itself is bigger and bitcoin already to be core of cryptocurrency. Not that easy to altcoins to replace bitcoin although it have more price than bitcoin. In past there are some coins which have higher price than bitcoin but never replace bitcoin.

in any case, Bitcoin remains the leader in the cryptocurrency market not only in terms of capitalization, but also in terms of the superiority of trade volume. But many analysts are already pointing to other data that suggests that many investors are already more interested in investing in Ethereum than in Bitcoin. To date, the capitalization of Ethereum has almost reached 30%, and Ethereum achieved such indicators earlier in early 2017.

Altcoins will never be too relevant like what bitcoin do. So it will never take over bitcoin's position today nor in the years to come. Altcoins prices may be surging these days but believe me its temporary. Once the market turns into bearish, prices will drop off and even bitcoin do that. But knowing the fact that bitcoin dominates the crypto world, it will never be that easy to replace it.

speculation is hard for an altcoin to replace bitcoin. from market capitalization it is different if bitcoin is higher than altcoin, then from what aspect can you be sure if bitcoin will be displaced by altcoins? can you explain?

Replacing bitcoin? It's just like a dream, so far many altcoins have developed very well, but again it will only be a dream to replace bitcoin, even after Ethereum can't surpass it.

As long as crypto is still active as a profitable investment, bitcoin will never become irrelevant. bitcoin is a pioneer for the entire community and also the current crypto era, it can be said that the fundamental of all current crypto is bitcoin, imo

the throne of Bitcoin will not be replaced by any altcoin, Bitcoin is the predecessor of the coin.
Crypto currency is also widely known because Bitcoin, Ethereum and Bitcoin prices are also very far apart so it will not be possible.

I do not think that it is even gradual; there is no possible way that any other coin replace it. I get that bitcoin went down to 45% dominance and I get that it is 54k right now with 7% or so drop, and I can see that ETH had a great period and it increased all the way to 3.3k and beyond, with ETH having 17% or so dominance all by itself. These are all things that make it look like there is a chance that ETH could overtake bitcoin one day, and it looks like there is a possibility.

However remember that bitcoin has 1 trillion dollar marketcap whereas ethereum has less than 400 billion dollars. Which means it needs to go up 2.5x more on top of what it has already gone up, and that will result with the increase, that is not really possible without bitcoin moving at all. I believe it is going to be a lot more challenging then what we have seen so far.

why the hell didn't you just use another altcoins faster? bitcoin has high rates and everyone knows it, it is not a secret to anyone, and see that even with this problem bitcoin is with a big adoption and a very high price that until months ago was given as a very distant dream. It is an annoying situation that you will have to pay a $32 fee without a doubt. so I advise you to choose other altcoins for transactions

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the day that bitcoin ceases to be relevant all altcoins will be dead

I think you have to use an argument with a clear basis or source.
because of this I think it's just an unclear argument, because until whenever I think eth and altcoin have not been able to replace the role of bitcoin from the king of coins.
Even if you see this only from bitcoin corrections and experiencing a decline in the past few weeks I don't think it can be used as a reference because if we see now bitcoin has started to rise again to the surface as usual.